Retirement scan

Retirees are likely to have fewer choices when they start shopping around for Medicare Advantage plans during the open-enrollment period that begins Oct. 15.

Not tapping tax-deferred retirement accounts until the age of 70 1/2 can be a wrong move, as required minimum distributions can be big enough to push retirees to a higher tax bracket.

Not tapping tax-deferred retirement accounts until the age of 70 1/2 can be a wrong move, as required minimum distributions can be big enough to push retirees to a higher tax bracket.

Employees should consider a dependable second-hand car instead of a new one, and then redirect the money saved into a retirement account.

Rates are likely to remain low, which will have a negative effect on retirees and older workers who are adjusting their portfolios in preparation for retirement.

Rates are likely to remain low, which will have a negative effect on retirees and older workers who are adjusting their portfolios in preparation for retirement.

Workers should start shoring up their savings by chipping in as much as they reasonably can to their employer’s retirement plan, especially if it comes with a matching contribution.

The amount that can be transferred is equivalent to the HSA's annual contribution limit, which is $3,400 for singles and $6,750 for couples.

These two accounts are both funded with money that has already been taxed, but there are still important differences that clients need to know.

Pre-retirees should have Medicare or health insurance in place to cover their medical costs, along with a well-maintained investment portfolio.

Retirees who under-reported their income to avoid taxes will also get smaller retirement benefits than they deserve.

Retirees who under-reported their income to avoid taxes will also get smaller retirement benefits than they deserve.

Retirees should weigh a number of factors, including the fact that the closing costs for reverse mortgages are higher than those for regular mortgages.

Retirees should weigh a number of factors, including the fact that the closing costs for reverse mortgages are higher than those for regular mortgages.

IRA investors should consider implementing a charitable lead annuity trust when converting some of their funds into Roth to mitigate the tax bite.

IRA investors should consider implementing a charitable lead annuity trust when converting some of their funds into Roth to mitigate the tax bite.

The withdrawals can be taken early in the year, late in the year or in installments throughout the year. Each approach has advantages to consider.

The withdrawals can be taken early in the year, late in the year or in installments throughout the year. Each approach has advantages to consider.

Recent graduates tend to be in a low tax bracket early in their careers when it pays for them to save as much as they can in a Roth IRA or Roth 401(k), writes an industry expert.

Recent graduates tend to be in a low tax bracket early in their careers when it pays for them to save as much as they can in a Roth IRA or Roth 401(k), writes an industry expert.